The Japanese casino industry would have an “Osaka Strip” following Las Vegas’ successful model of gaming and touristic hub.
Japan.- As the casino industry is ready to land in Japan, the market is assessing potential proposals to develop a globally renowned touristic attraction. Casino developing has been boosted by Global Market Advisors LLC (GMA) through the article “White Paper: Japan Integrated Resorts,” which was issued last week.
According to the report, the Japanese gaming market could generate US$11 billion by 2025 per year and US$24.2 billion annually by 2030. The expert source also suggested that the Asian country should directly complete with Las Vegas’ Strip by offering a modern Osaka Strip. The newest casino hub will attract tourists from around the world and will also compete with the regional gaming centre, Macau.
“GMA would suggest if tourism is one of the main reasons for IR [integrated resort] expansion, as it was in Singapore, that one of the sites, such as Yumeshima Island in Osaka, be considered to host multiple IRs on a single site,” stated the GMA’s article that was released last Wednesday. “Developing the Osaka site, with multiple operators on the ‘Osaka Strip,’ would create critical mass and a true tourist destination. This would compete with Las Vegas, Macau, and Singapore in generating nearly $11bn from that district alone,” added Steve Gallaway, Managing Partner for Global Market Advisors.
Meanwhile, Japanese legislators are debating further laws to control the growth of the industry as well as potential gaming problems. Casino industry regulations would also focus on construction and operating conditions. GMA is preparing a full report to be launched by May 1 detailing the most profitable plans to develop the casino industry in Japan.